ECONOMY

Pandemic’s damage to brain business jobs

pandemic-s-damage-to-brain-business-jobs

The pandemic saw Greece lose more than half of the jobs it had worked hard to create in knowledge-intensive companies over the previous seven years, according to a new research released on Monday.

The European Center for Entrepreneurship and Policy Reform (ECEPR) and Nordic Capital’s Brain Business Jobs Index, which measures the share of the working-age population employed in highly knowledge-intensive enterprises in 31 countries and 284 regions across Europe, showed that before the coronavirus crisis, Greece experienced a significant boost in brain business jobs.

Between 2012 and 2019, Greece added 15,000 jobs in knowledge-intensive companies. However, during 2020, Greece lost 8,200 brain business jobs. Due to this, the concentration of the population employed in knowledge-intensive occupations decreased from 3.9% in 2019 to 3.8% last year.

However, the report also pointed out that Greece has several strengths compared to the rest of Europe, especially in research and development, adding that for this country to prosper as a knowledge nation, improvements are needed in regulatory and tax systems, as well as a boost in the education sector.

Compared to the rest of Europe, Greece has strengths in research & development, and movies/TV/music. On the other hand, Greece is behind the rest of Europe when it comes to areas such as high-tech manufacturing and programming, according to the report